Essential Properties Realty Trust (NYSE:EPRT) Earns Overweight Rating from Analysts at Barclays

Barclays assumed coverage on shares of Essential Properties Realty Trust (NYSE:EPRT) in a report published on Tuesday, Marketbeat reports. The firm issued an overweight rating and a $35.94 price objective on the stock.

A number of other analysts have also weighed in on the stock. Raymond James raised their price target on shares of Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Mizuho boosted their target price on Essential Properties Realty Trust from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Truist Financial raised their price target on Essential Properties Realty Trust from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. UBS Group boosted their price objective on Essential Properties Realty Trust from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Scotiabank upped their target price on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Essential Properties Realty Trust Price Performance

Essential Properties Realty Trust stock opened at $32.69 on Tuesday. The business’s fifty day moving average is $33.06 and its two-hundred day moving average is $31.23. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.59 and a current ratio of 5.59. The firm has a market cap of $5.73 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.74 and a beta of 1.38. Essential Properties Realty Trust has a 52 week low of $23.58 and a 52 week high of $34.88.

Essential Properties Realty Trust (NYSE:EPRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.16). The company had revenue of $117.13 million for the quarter, compared to analyst estimates of $109.73 million. Essential Properties Realty Trust had a return on equity of 6.20% and a net margin of 46.00%. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the company earned $0.42 EPS. Equities research analysts forecast that Essential Properties Realty Trust will post 1.68 earnings per share for the current fiscal year.

Essential Properties Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 102.61%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EPRT. CWM LLC lifted its holdings in shares of Essential Properties Realty Trust by 122.9% during the 2nd quarter. CWM LLC now owns 1,244 shares of the company’s stock valued at $34,000 after purchasing an additional 686 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Essential Properties Realty Trust by 9.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 193,228 shares of the company’s stock valued at $5,354,000 after buying an additional 16,978 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Essential Properties Realty Trust by 14.1% in the second quarter. Louisiana State Employees Retirement System now owns 88,200 shares of the company’s stock valued at $2,444,000 after buying an additional 10,900 shares during the period. Bank of New York Mellon Corp increased its position in shares of Essential Properties Realty Trust by 9.4% during the second quarter. Bank of New York Mellon Corp now owns 1,966,304 shares of the company’s stock worth $54,486,000 after acquiring an additional 169,222 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Essential Properties Realty Trust by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,712 shares of the company’s stock worth $2,541,000 after acquiring an additional 7,213 shares in the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

Essential Properties Realty Trust Company Profile

Essential Properties Realty Trust, Inc, a real estate company, acquires, owns, and manages single-tenant properties in the United States. The company leases its properties to middle-market companies, such as restaurants, car washes, automotive services, medical and dental services, convenience stores, equipment rental, entertainment, early childhood education, grocery, and health and fitness on a long-term basis.